Cost Disease Socialism: How Subsidizing Costs While Restricting Supply Drives America’s Fiscal Imbalance

Source: Niskanen Center
by Steven Teles, Samuel Hammond, & Daniel Takash

“We are in an era of spiraling costs for core social goods — health care, housing, education, child care — which has made proposals to socialize those costs enormously compelling for many on the progressive left. This can be seen in the ideas that floated around the 2020 Democratic primary, which are a preview of coming policymaking attractions. Proposals for free college and student debt relief, Medicare for All, free or nearly free universal child care, and massive subsidies for renters in expensive cities were floated by President Biden’s challengers, and continue to be at the top of the progressive agenda. … The traditional socialist call to ‘seize the means of production’ has thus been updated to something closer to ‘subsidize my cost of living’ — a less revolutionary ambition, perhaps, but one that is no less myopic.” (09/09/21)